BAA mulls a fresh lawsuit in sell-off spat July 19, 2011 BAA said it is considering judicial review after the Competition Commission ruled yesterday that the airport operator must sell Stansted and Glasgow or Edinburgh airport. In its final report, the commission said that the sales process for London’s third-largest airport Stansted would start in three months’ time, and would be followed by the sale of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 13, 2011 FINANCIAL TIMES WATCHDOG IN PENSION VICTORY Britain’s Pensions Regulator has dropped the threat of action against US-based Chemtura Corp and its UK subsidiary, after the company agreed to pay £60m into its pension scheme over the next three years. In December 2010, the regulator issued a formal warning to Chemtura Corp and Chemtura Manufacturing UK that [...]
Ticket sales enjoy jump at easyJet July 6, 2011 NO-FRILLS airline easyJet yesterday reported a 9.1 per cent rise in passenger numbers in June compared with last year, in line with its rivals, as its expansion plan takes flight. In the 12 months to June, easyJet sold 53.36m seats on its flights – a jump of 12 per cent on last year. The rise [...]
IAG traffic up on premium travel growth July 5, 2011 INTERNATIONAL Airlines Group (IAG), formed by the merger of BA and Iberia, posted a rise in passenger traffic for June thanks to growth in first-class and business-class travel. Traffic, measured in revenue passenger kilometres, rose 9.2 per cent versus June 2010, while passenger load factor – a measure of how well it fills its planes [...]
Airlines face legal action over misleading debit card charges June 28, 2011 AIRLINES and travel companies were warned yesterday that they face punishment over their “hidden” credit and debit charges. An investigation by the Office of Fair Trading (OFT), found evidence of companies using “drip pricing” tactics – where surcharges are added to the full price only after consumers have filled in a number of web pages. [...]
Shares in Avis spike on news of takeover June 14, 2011 SHARES in car hire firm Avis Europe leaped 58 per cent yesterday as investors rushed to benefit from its takeover by US counterpart Avis Budget. Avis Budget said it would pay £636m in cash for Avis Europe to reunite the two firms after 25 years and create a group with revenues of $7bn (£4.3bn). The [...]
WHISKY AT MIDDAY FOR ABERDEEN’S POLAR FEAT June 2, 2011 THE WHISKY came out at noon at Aberdeen Asset Management yesterday to christen the boat the fund managers are sponsoring on its voyage into the Arctic unknown. The Old Pulteney has been designed to withstand some of the harshest conditions on earth, and her six-man crew – led by Scottish explorer Jock Wishart – will [...]
CITY MOVES | WHO’S SWITCHING JOBS June 2, 2011 Norton Rose Jon Harry is joining the law firm’s Paris office as a partner on 6 June. Harry led the corporate group of Hogan Lovells’ Paris office from 2006 to 2009, before becoming a corporate specialist practising in Paris, with expertise in cross-border mergers and acquisitions. Evolution Securities The investment bank has appointed Mark Wellesley-Wood [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 31, 2011 FINANCIAL TIMES UK CONSUMER RECOVERY SET TO BE SLOWEST IN 180 YEARS The UK economy is set to experience the slowest pick-up in consumer spending of any post-recession period since 1830, according to a Financial Times analysis of official forecasts. Families are expected to spend just slightly more by 2015 than they were before the [...]
Airlines hit as ash cloud reaches UK May 24, 2011 A ROW between airlines and aviation officials broke out yesterday over fears the volcanic ash cloud blowing in from Iceland could cause a repeat of last summer’s mass flight disruptions. Planes due to fly to and from Scotland were grounded yesterday, including flights from London airports. However, late last night, UK air traffic control service [...]